Iran sells first batch of furnace fuel oil at oil bourse
Azerbaijan , Baku, June14 /Trend/
Iran 's third attempt to sell furnace fuel oil cargo was a success on international oil bourse at Kish Island Tuesday, IRNA reported.
The Bandar Abbas Oil Refining Company (BAORCO) put 35,000 tons of furnace fuel oil at the price of $668.41 per ton on international oil bourse at Kish Island.
By customers' demand, the BAORCO agreed to halve the major price.
The first furnace fuel oil cargo sold after 20 minutes at $667.41 per ton.
Iran commodity market also approved to put heavy oil on international oil bourse at Kish Island.
The third fuel oil cargo went on oil bourse Tuesday after two unsuccessful trading sessions failed due to price disagreements.
The Iranian official previously gave hints on possible price reduction of fuel oil cargo in oil bourse at the third attempt.
Iran has OPEC's second-highest oil output, and ranks second in the world in terms of natural gas reserves after Russia.